NYSE · Medical - Diagnostics & Research

Waters Corporation (WAT) Stock

$429.13 -1.57% NYSE: WAT Healthcare

Valuation

MetricValue
Price$429.13
Market Cap$42.13B
P/E Ratio105.77
P/B Ratio2.75
P/S Ratio8.99
EPS (TTM)$10.76
52-Week High$448.21
52-Week Low$282.77
Dividend Yield0.00%

Financials & Margins

MetricValue
ROE1.88%
ROA0.67%
ROCE1.65%
Gross Margin28.21%
Operating Margin28.21%
Net Margin3.58%
Debt/Equity0.35
Current Ratio1.73

Annual Financials (USD)

Metric20212022202320242025
Revenue$2.8B$3.0B$3.0B$3.0B$3.2B
Operating Profit$822.0M$873.0M$818.0M$826.0M$893.0M
Net Profit$693.0M$708.0M$642.0M$638.0M$643.0M
EPS$11.17$11.73$10.84$10.71$10.76
Op Margin29.5%29.4%27.7%27.9%28.2%

Balance Sheet (USD)

Metric20212022202320242025
Total Assets$3.1B$3.3B$4.6B$4.6B$5.1B
Total Liabilities$2.7B$2.8B$3.5B$2.7B$2.5B
Cash$501.0M$481.0M$395.0M$324.0M$588.0M
Borrowings$1.6B$1.7B$2.4B$1.7B$1.5B

Latest News

WAT: Lowering target price to $404.00 Argus Research · Jul 22, 2026 Q1 Research Tools & Consumables Earnings Review: First Prize Goes to Waters Corporation (NYSE:WAT) StockStory · Jul 17, 2026 TD Cowen Adjusts Price Target on Waters to $408 From $385, Keeps Hold Rating MT Newswires · Jul 15, 2026 Goldman Sachs Adjusts Price Target on Waters to $425 From $380, Maintains Buy Rating MT Newswires · Jul 14, 2026 Waters Corporation's Quarterly Earnings Preview: What You Need to Know Barchart · Jul 13, 2026

Cash Flow (USD)

Metric20212022202320242025
Operating Cash Flow$747.0M$612.0M$603.0M$762.0M$653.0M
Investing Cash Flow$-400.0M$-291.0M$-1.6B$-287.0M$-265.0M
Financing Cash Flow$-598.0M$-570.0M$-25.0M$33.0M$-15.0M
Net Cash Flow$65.0M$-21.0M$-85.0M$-71.0M$262.0M
Free Cash Flow$579.0M$428.0M$442.0M$620.0M$540.0M

Valuation & Return Ratios

MetricValue
PEG Ratio-1.66
EV / EBITDA51.87
FCF Yield0.95%
Quick Ratio1.29
Interest Coverage2.67
Return 1Y34.02%
Return 3Y64.59%
Return 5Y28.08%

Ownership

Insiders Held0.10%
Institutions Held99.99%
Institutions Float Held100.10%
Institutional HolderSharesReport Date
Blackrock Inc.8,543,0142026-03-31
Vanguard Capital Management LLC6,378,7752026-03-31
Vanguard Portfolio Management LLC4,754,1852026-03-31
T. Rowe Price Investment Management, Inc.4,663,8792026-03-31
Massachusetts Financial Services Co.4,630,1182026-03-31

Peer Comparison

TickerPriceChangeP/EMarket CapDiv Yield
AAgilent Technologies, Inc. $168.17 -0.54% 33.95 $47.50B 0.59%
BRKRBruker Corporation $57.92 -3.01% -91.36 $8.82B 0.31%
DHRDanaher Corporation $217.46 -0.47% 39.76 $152.87B 0.71%
HRIBFHORIBA, Ltd. $162.47 +0.00% 24.28 $6.82B 2.74%
MKKGYMerck KGaA $31.25 +1.82% 25.50 $67.93B 1.63%

About Waters Corporation

Waters Corporation is led by CEO Udit Batra, employs 7,900 people, headquartered in Milford, US, publicly traded since 1995.

Waters Corporation (WAT) stock trades at $429.13 with a market capitalization of $42.13B. The stock is valued at a price-to-earnings (P/E) ratio of 105.77, price-to-book of 2.75, price-to-sales of 8.99. Over the past 52 weeks the stock has ranged between $282.77 and $448.21, and currently trades 4.3% below its 52-week high.

On profitability, Waters Corporation generates a return on equity (ROE) of 1.88%, return on capital employed of 1.65%, an operating margin of 28.21%, a net profit margin of 3.58%.

In its most recent fiscal year, Waters Corporation reported annual revenue of $3.2B, net profit of $643.0M, revenue has compounded at 6.0% a year over the last five years, profit at 4.3% a year.

The balance sheet shows a debt-to-equity ratio of 0.35 — a conservative balance sheet with little leverage risk, a current ratio of 1.73, total assets of $5.1B, $588.0M in cash and equivalents.

WAT has a beta of 1.19.

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